Covid – 19 Emergency Response and SME Support

About credit

Purpose

Victoriabank concluded the refinancing agreement to join the project – Covid – 19 Emergency Response and SME Support, becoming project financial partner, which is financed by the Ministry of Finance from the Council of Europe Development Bank (CEB) loan to the Government on the Republic of Moldova and aims to support Micro, Small and Medium Enterprises with liquidity needed to support their activity, maintaining and creating new jobs.

Loan Value

up to 600,000 EUR for investments and up to 300,000 EUR for working capital

Currency

MDL, EUR

Maturity

up to 6 years for investments and up to 4 years for working capital

Eligible credit destination

Financing the beneficiaries investments in productive fixed assets and required working capital, and emergency health-related and training expenses, financing the needs of newly created and existing businesses impacted by crisis
Sub-project to support creation of stable/ and seasonal jobs through easy access for financing

As well as the eligibility criteria must meet both following criteria

Comply with legal provisions and environmental protection standards
The total subproject costs must not exceed 2 million EUR

The Loan Benefits

The interest rate will be zero for the 10% co-financing portion from the Government of each eligible sub-loan, allocated by OGPAE, the main loan amount being repayable

Do you meet the following conditions

The company complies with the SME company according European Union criteria
The company is registered and operates in the Republic of Moldova
There are no arrears on loans granted in the last 12 months, according data supplied by Loan Reporting Office/Agency (BIC)
Your company has been impacted by pandemic crisis

Types of accepted pledges

Movable or immovable assets
Pledge of funds on deposit account

How to apply for a loan

Contact the branch you are already working with
Fill out the loan application
Attach the legal-constitutive approval regarding contracting the loan and the legal representative of the company within the legal transaction
Attach copy of the last two (annual) financial reports and for the last completed quarterly trial balance

Non-eligible activities, which cannot be allowed for financing from project funds

Renewable energy investments, health (clinics, hospitals), education (schools, universities, etc.) which will be financed from other specific funds
The sub-project costs doesn’t include the financial costs of investments (refinancing of debts or loans granted by other banks, payment of interest, share capital in its own enterprise , taxes etc.)
Labour Costs (payment of salaries, additional personnel payments and benefits, payment of dividends, pension repayments etc.)
Acquisition of consumer goods and services
Acquisition and/or renovation of real estate for later resale or leasing